Trump, China Trade feud escalates

The U.S says China treats American companies unfairly by restricting access to its markets and stealing proprietary technology. "We are on a risky downward spiral and American families will be on the losing end".

Trump and China are in a broadening trade tit-for-tat that began several weeks ago and grew this week, with the world's two largest economic powers threatening a series of trade restrictions on each other.

If implemented, the further tariffs would triple the $50 billion placed on goods imported from China that Trump announced on Tuesday.

The US decision to use tariffs as a means of addressing trade grievances is reverberating beyond the relationship with China. If China pressed ahead with planned 25 percent levies on those products, Trump could be hurt at the polls.

"This latest intimidation reflects the deep arrogance of some American elites in their attitude towards China", the state-run Global Times said in an editorial.

Beijing and Brussels both know that the public threat of retaliatory tariffs puts political pressure on Ryan, and other Republicans in Wisconsin.

On Tuesday, the White House went ahead with tariffs that target manufacturing technology, arguing that Chinese trade practices have unfairly hurt us business.

"Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers", Trump said in the statement. The U.S. semiconductor sector relies on China for about a quarter of its revenue.

"I'm not a tariff guy", Kudlow said.

"Let's absolutely take on Chinese bad behavior, but with a plan that punishes them instead of us". Nebraska Senator Ben Sasse called the move "the dumbest possible way to do this". Treasury Secretary Steven Mnuchin told CNBC he was "cautiously optimistic" that the USA and China could reach an agreement before any tariffs are implemented but added, "there is the potential of a trade war".

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White House chief of staff John Kelly and Mnuchin concurred with the move, as did Kudlow, who traveled with the president to West Virginia.

The news jarred investor sentiment, which was already fragile before publication of Friday's crucial non-farm payrolls data in the United States. He has never shown any sign of being willing to overcome his limitations through hard study.

Experts say that the seemingly random array of US products in line for retaliation are actually carefully selected. Mnuchin says in the interview that USA officials are in communication with the Chinese.

Using language that bordered on militaristic, China's government said it would "immediately fight back with force and without hesitation" if the US moves forward with the tariffs.

Infographic explaining tariffs (left), and a chart showing US tariffs since 1821 (right).

Brander said he remains optimistic that this dispute gets settled without any tariffs taking hold.

Asia-Pacific markets largely shrugged off the news.

Many of United States farmers could then be forced to switch to other crops - very few of which are as lucrative.Soybean producing areas in the United States are filled with famers who voted for Mr Trump, and so some of them are now less than happy with their president.

China's reciprocal tariffs irked Trump because they targeted soybeans and automobiles - goods that matter to red state voters.

China retaliated by imposing additional tariffs worth about $three billion on 128 United States products. They have very high tariffs in a number of key places.

"The announcement that the administration may issue 100 billion dollars in additional tariffs on Chinese products is irresponsible and destabilising", Dean Garfield, head of the Information Technology Industry Council, said. But we're going to have a much stronger country when we're finished.

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